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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Danone | EU:BN | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.72 | -2.89% | 57.74 | 57.20 | 57.98 | 57.92 | 57.08 | 57.40 | 1,735,441 | 16:40:00 |
By Giulia Petroni
Danone SA's shares soar Wednesday at market opening following a broadbased sales beat in the first quarter and reiteration of guidance for the full year despite inflationary and supply-chain pressures.
At 0742 GMT, shares trade 7.1% higher at EUR56.39.
The French food company's start to the year was marked by quarterly sales organic growth of 7.1%, mainly driven by price and volume/mix, which were up 4.9% and 2.2% respectively.
"1Q sales have beaten meaningfully, led by the specialized nutrition division, the health of which we see as critical to the profit and margin algorithm," analysts at Jefferies say in a research note.
Danone also backed its 2022 outlook despite expected mid-teens inflation in the year and still assuming the reinvestment of 100% of the cost savings of its "local first" plan. This means the company will be "funding its revamp while peers may have to cut back on A&P [advertising & promotional spend] to protect margin outlooks," Citi analysts say in a note.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 20, 2022 04:11 ET (08:11 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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